DML Markets Scam Review – Pig Butchering Crypto Trading Fraud

Overview

• Scam Name: DML Markets

• Scam Type: Pig butchering / cryptocurrency investment fraud

• Primary Scammer Alias: Steph Lewis

• Initial Contact Platform: Facebook

• Fraud Method: Fake crypto trading platform and psychological manipulation

• Status: Underreported, currently not publicly listed by financial regulators

Summary

DML Markets is allegedly an unregulated, fraudulent online trading platform implicated in a cryptocurrency-based pig butchering scam. The operation is reportedly run through a Facebook profile under the alias Steph Lewis, who builds trust with targets before encouraging large-scale investments into DML Markets. Victims are led to believe they are earning significant returns, only to be blocked from withdrawing funds and ultimately defrauded.

This type of scam follows a familiar pattern of social engineering, fake profits, escalating deposits, and sudden withdrawal restrictions, culminating in substantial financial loss. Though not officially listed by authorities at the time of this review, the tactics and structure strongly resemble numerous verified pig butchering schemes targeting individuals across North America and Europe.

Modus Operandi

1. Initial Contact:
   The scam begins with unsolicited but friendly contact through Facebook, typically involving a professional-looking profile (e.g., “Steph Lewis”) who claims success in crypto trading.

2. Trust Building:
   The scammer engages the target in ongoing conversations, often positioning themselves as a mentor or offering exclusive investment opportunities.

3. Platform Introduction:
   Victims are directed to invest through DML Markets, a fraudulent trading interface that mimics legitimate trading activity.

4. Fake Returns:
   Initial deposits appear to generate profit. Victims may even be allowed to withdraw small amounts to reinforce the illusion of legitimacy.

5. Aggressive Upselling:
   Once trust is solidified, the victim is urged to invest more significant sums—often tens of thousands of dollars—with promises of exponential returns.

6. Withdrawal Blockage:
   When the victim attempts to withdraw funds, the platform imposes fictitious fees, taxes, or administrative holds, demanding additional payments.

7. Scammer Disappears:
   Eventually, the platform goes offline or stops responding entirely, leaving the victim with no access to their funds and no way to recover them through the platform.

Notable Recovery Case: Michigan Victim Assisted by ST9 Investigations

In a notable case, a victim based in Michigan, who had been defrauded out of nearly $38,000 through DML Markets, sought assistance from the independent recovery firm ST9 Investigations. The victim, who had been lured into the scheme by Steph Lewis over several weeks of social media messaging, faced resistance and silence when attempting to withdraw her funds.

ST9 Investigations conducted a forensic analysis of the blockchain transactions and traced the routing of assets through multiple wallet addresses. Leveraging partnerships with cybersecurity experts and crypto compliance firms, they were able to intervene early enough to freeze a portion of the transferred assets and recover a significant portion of the victim’s losses. This case highlights the importance of prompt action and the growing role of private investigative firms in cyber fraud recovery.

Red Flags Identified

Verification & Regulation Status

As of this writing:

• DML Markets is not registered with any major financial regulatory authority (e.g., SEC, FCA, ASIC).

• No official consumer alerts or legal proceedings are publicly listed regarding DML Markets or the alias Steph Lewis.

• The platform demonstrates characteristics consistent with known pig butchering operations, including untraceable crypto flows and offshore hosting.

Recommendations for Victims

If you suspect you have been scammed by DML Markets or a related entity:

1. Cease communication immediately and do not send additional funds.

2. Preserve all evidence: Chat logs, payment records, wallet addresses, screenshots.

3. Report the incident to national authorities:

   • United States: FTC or IC3

   • United Kingdom: Action Fraud

   • Canada: Canadian Anti-Fraud Centre

4. Notify your crypto exchange or wallet provider; request account flags or transaction holds.

5. Consider working with a reputable recovery firm such as ST9 Investigations, especially for large losses.

Conclusion

The DML Markets scam, allegedly operated through the alias Steph Lewis via Facebook, represents a textbook example of a pig butchering crypto fraud. While not yet the subject of formal regulatory enforcement, its methods and platform behavior align with verified scams in this category. Victims should act swiftly, avoid further financial exposure, and consider professional support.

Platforms and individuals matching this pattern should be treated as high-risk and potentially criminal, and any investment solicitation from such sources should be immediately reported.